Migdal Insurance Financial Holdings Ltd. Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Migdal Insurance Financial Holdings Ltd. reduced its stake in Wells Fargo & Co by 0.86% during the most recent quarter end. The investment management company now holds a total of 820,545 shares of Wells Fargo & Co which is valued at $41,535,988 after selling 7,110 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Wells Fargo & Co makes up approximately 1.26% of Migdal Insurance Financial Holdings Ltd.’s portfolio.

Wells Fargo & Co opened for trading at $50.05 and hit $50.7384 on the upside on Friday, eventually ending the session at $50.62, with a gain of 1.14% or 0.57 points. The heightened volatility saw the trading volume jump to 1,63,65,728 shares. Company has a market cap of $256,983 M.

Other Hedge Funds, Including , Umb Bank N Amo boosted its stake in WFC in the latest quarter, The investment management firm added 7,609 additional shares and now holds a total of 601,381 shares of Wells Fargo & Co which is valued at $30,441,906. Wells Fargo & Co makes up approx 1.28% of Umb Bank N Amo’s portfolio.Private Bank Trust Co reduced its stake in WFC by selling 3,065 shares or 5.35% in the most recent quarter. The Hedge Fund company now holds 54,228 shares of WFC which is valued at $2,745,021. Wells Fargo & Co makes up approx 0.47% of Private Bank Trust Co’s portfolio.Kanaly Trust Co boosted its stake in WFC in the latest quarter, The investment management firm added 256 additional shares and now holds a total of 33,870 shares of Wells Fargo & Co which is valued at $1,634,228. Wells Fargo & Co makes up approx 0.33% of Kanaly Trust Co’s portfolio.Gvo Asset Management Ltd reduced its stake in WFC by selling 1,452,300 shares or 42.24% in the most recent quarter. The Hedge Fund company now holds 1,985,740 shares of WFC which is valued at $93,389,352. Wells Fargo & Co makes up approx 10.90% of Gvo Asset Management Ltd’s portfolio.Chelsea Counsel Co boosted its stake in WFC in the latest quarter, The investment management firm added 3,866 additional shares and now holds a total of 11,945 shares of Wells Fargo & Co which is valued at $561,773. Wells Fargo & Co makes up approx 0.16% of Chelsea Counsel Co’s portfolio.

On the company’s financial health, Wells Fargo & Co reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.98. The company had revenue of $22195.00 million for the quarter, compared to analysts expectations of $21524.59 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Wells Fargo & Co. Wells Fargo & Co was Downgraded by Piper Jaffray to ” Underweight” on Apr 15, 2016. Wells Fargo & Co was Downgraded by Sandler O’Neill to ” Hold” on Apr 11, 2016. Wells Fargo & Co was Downgraded by Guggenheim to ” Neutral” on Apr 6, 2016.

Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking Wholesale Banking and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses including checking and savings accounts credit and debit cards and auto student and small business lending. The Community Banking segment’s products include investment insurance and trust services and mortgage and home equity loans. The Community Banking segment’s products and business segments include middle market commercial banking government and institutional banking corporate banking and commercial real estate among others. The Company’s Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.

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